The acquisition makes Aggregate Industries one of the leading providers of recycled construction and demolition waste materials in London, the largest circular economy market in the UK.

It will also provide Aggregate Industries with further growth opportunities in other areas of the country.

Charlton headquartered Sivyer Group employs over 150 people and turns over £40m, making a pre-tax profit of £850,000 last year.

With six facilities across the capital, Sivyer Logistics’ services include waste management, vehicle logistics, manufactured soils, primary and recycled aggregates and volumetric readymix concrete.

Sivyer currently handles 1 million tonnes of waste materials per year, recovering over 450,000 tonnes through its recycling and recovery process.

Dragan Maksimovic, CEO of Aggregate Industries UK, said: “Sivyer Logistics is an impressive business that has multiple synergies with our own.

“This acquisition is positioning us at the forefront of circular construction, driving our ambition to build new from the old.

“We have an ambitious strategy to grow our CDW and circular economy operations by 2025, and the acquisition of Sivyer provides us with enhanced expertise, facilities and products as we continue to strive to become the UK’s leading supplier of sustainable construction materials and solutions.”

Simon Sivyer, Managing Director at Sivyer Logistics, said: “We have a long heritage going back to 1862, and we’re incredibly proud of what we’ve achieved as a business to date.

“We’re delighted to be beginning this next chapter of our story and are looking forward to continued growth in the London area and beyond with Aggregate Industries’ backing.”